Cindy Kelemen
Marketing Director
DO2 Technologies
ckelemen@do2.com
DO2 Technologies announced the release of version 4.2 of their flagship product suites, OpenInvoice and OpenContract, delivering more than 200 enhancements.
“In an effort to continually expand and enhance our technology, we collaborate with our operating company customers, and the more than 1400 supplier companies using the system, for feedback and usability modifications,” said Doug Spackman, Vice President, Development, DO2 Technologies.
Of the more than 200 items added to the release, major enhancements include improvements to the document routing and approval mechanisms. Invoices and Field Tickets can be “mass routed” internally in the case of corporate or regional reorganizations. Corporate administrators now have enhanced control over rerouting incorrectly forwarded documents, and are given more rights to correct improperly coded invoices. These features allow corporations to smoothly deal with inevitable corporate reorganizations.
An optional approval process step has been added as well. OpenInvoice users that have ultimate approval authority for AFEs and Cost Centers have the opportunity to accept or reject charges made to them, even if someone else has previously authorized the invoice associated with the charge.
In another significant enhancement, tighter integration with customer human resources systems now allows employee and delegation of authority information to be fed directly into OpenInvoice as it is created or changed within the HR application. In both OpenInvoice and OpenContract, individual user information can be imported directly from other enterprise applications, including spend approval limits and administrative details. This reduces clerical errors and staff time involved in the process.
Further enhancements to OpenInvoice’s early pay discount capability now allow operators to flag suppliers as “priority pay” candidates if their contract terms or business agreements require faster than normal invoice processing and approval. This feature ensures that all early pay discounts are realized, resulting in significant savings to operating companies and faster payment for suppliers.
Also within the OpenInvoice application, additional detailed reports have been introduced that enhance the user’s spend analysis capabilities. Spend can be analyzed by the Supplier’s product or service description as well as the Service Supply Index category (DO2 Technologies’ spend categorization mechanism) maintained within the application.
Improvements to OpenContract include automating the uploading and ongoing maintenance of electronic pricebooks. The pricebooks are used for line item price reconciliation between invoices and contracts, and allows operating companies to automatically check prices as part of the invoicing process.
OpenInvoice automates paper-driven processes between suppliers and operating companies by automatically coding line items, tracking inquiries, resolving disputes and seamlessly linking spend information to corporate financial systems. The process automation results in significantly reduced costs, while the spend capture and analysis capabilities allow energy companies to work toward better relationships with their strategic suppliers.
OpenContract is fully integrated with OpenInvoice to further reduce invoice processing time through its full audit capability and non-contracted exception reporting. The combined solution automatically ensures invoices are priced according to contracted rates for every line item.
DO2 Technologies delivers Internet-based solutions that automate and integrate financial and operational processes between energy companies and their suppliers. Our products simplify complex workflow processes and enable collaboration within and between organizations. Drilling, Production, Finance, Procurement, and Purchasing departments, as well as external service suppliers and partners all use DO2 Technologies solutions.
Cindy Kelemen
Marketing Director
DO2 Technologies Inc.
(713) 260-9693
ckelemen@do2.com
http://www.do2.com